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Misys support service aims to help mid-size firms grow

Misys IFA Services is introducing a new service to help medium-sized firms become bigger regional IFA businesses.

The “hub proposition” aims to provide the support that firms with 10-20 RIs need to come together to build a single bigger business.

Support on offer will primarily be financial and marketing although more detailed plans are to be announced in the New Year.

Mifas chief executive Patrick Gale says: “The objective is to recognise that we have a number of medium-sized but first-class businesses that have the potential to build a large regional IFA business.”

Talbot Insurance Services partner Howard Cook says: “I think that there are a lot of cost savings to be made but there are also lots of people who will want their pound of flesh.

“It would be a good idea in terms of economies of scale but will affect the independence of IFAs, who are after all very independent people. If it is going to assist my exit route that would appeal. I would want to see the details first.”

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